The new team must report findings to Snyder within 60 days, under Public Act 72 of 1990.

According to the governor's office, the preliminary review found several issues including the following:

-- Detroit has violated the Uniform Budgeting and Accounting Act which requires local officials monitor and amend an adopted budget to prevent deficit spending. -- Detroit projects a cash flow shortage to end its 2013 fiscal year. -- Due to financial reporting problems, city projections change from month to month, making it difficult to make informed decisions regarding its fiscal health. -- Estimates of the city's cash flow by June project a $122 million deficit. -- Detroit officials have not filed an adequate or approved deficit elimination plan with the state Treasury for the fiscal year ending in June 2011.

"My administration has worked, and will continue to work in collaboration, with Mayor Bing and city officials to ensure a revitalized and successful Detroit," said Snyder in a news release. "However, given the financial crisis that continues to grip the city of Detroit, we must move quickly to ensure city residents have continued access to essential services they expect and deserve. Therefore, I am requesting that this team conduct an expedited review of the city's finances."

The Detroit mayor's office declined to comment when Local 4 reached out to it on Tuesday night.